El riesgo en los proyectos de inversión: su tratamiento en la literatura económica

Abstract

The purpose of this paper is to make a brief review of the evolution and current state of economic thought on the problem of risk in investment projects. First, attention will be focused on a series of approaches whose aim has been the rationalization of observed behavior toward risk, and/or provide some normative rules for risky choices. Then, two alternative methods for empirical estimation of risk will be analyzed. Finally special attention will be given to the controversial problem of relevance of risk for public investment projects.